Stock futures were trading mixed Tuesday as investors were cautious to make big moves ahead of a speech by Federal Reserve Chairman Jerome Powell that may give a better sense of where interest rates are headed.
These stocks were poised to make moves Tuesday:
Nvidia fell 0.7% after gaining 3.9% on Monday to close at a record high of $183.61. The chip maker announced it was planning to invest as much as $100 billion in OpenAI, the maker of ChatGPT, to support the buildout of AI data center capacity. The partnership will deploy at least 10 gigawatts of Nvidia AI systems to train and run OpenAI's next-generation AI models. Nvidia has risen for three straight sessions, pushing gains this year to 37%. Rival Broadcom rose 0.8% in premarket trading, following a 1.6% drop Monday.
Apple slipped 0.4% after the iPhone maker closed up 4.3% on Monday. Coming into Tuesday, Apple has gained 2.3% in 2025 but has lagged behind its Magnificent Seven peers. Wedbush analyst Dan Ives said he expects a rebound in the stock because users will want to upgrade to the iPhone 17, adding that Wall Street was "clearly underestimating this iPhone cycle in our view," as he raised his price target on shares to $310 from $270.
Kenvue Inc rose 5.8% in premarket trading, clawing back some losses following a 7.5% drop Monday to a record low. The decline came ahead of President Donald Trump making an unproven link between acetaminophen, the active ingredient in Kenvue's painkiller Tylenol, and autism. Late Monday, Trump blamed the drug's use for increased autism rates nationwide. A Kenvue spokesperson said that "independent, sound science clearly shows that taking acetaminophen does not cause autism."
Firefly Aerospace Inc. was falling 10% after the rocket developer posted its first earnings report since becoming a public company. Second-quarter revenue of $15.5 million fell from $21.1 million a year earlier and missed analysts' expectations of $16.8 million. The company's second-quarter loss widened to $5.78 a share from a loss of $4.60 a year earlier.
Walt Disney said " Jimmy Kimmel Live!" would resume broadcasting on the ABC network Tuesday after it was suspended just days ago following pressure from local station owners and Federal Communications Commission Chairman Brendan Carr. Station owners Nexstar Media Group and Sinclair both said last week they wouldn't air the show after host Kimmel made comments about the fatal shooting of conservative commentator Charlie Kirk. Shares of the media giant were rising 0.4% after falling 1.1% on Monday.
Plug, the hydrogen technology provider, rose 9% in premarket trading after jumping nearly 22% on Monday. The stock has closed higher for 10 consecutive sessions, its longest winning streak on record, and has risen 101% over the span, according to Dow Jones Market Data.
Earnings reports are expected Tuesday from Micron Technology, AutoZone.